AUD/NZD chart - Trading View
Spot Analysis:
AUD/NZD was trading 0.05% higher on the day at 1.0828 at around 11:00 GMT
Session High/Low: 1.0844/ 1.0814
Previous Week's High/Low: 1.0875/ 1.0813
Technical Analysis: Bias Neutral
- AUD/NZD pauses downside, finds strong support at 21-EMA at 1.0828
- GMMA indicator shows major trend is bullish, while minor trend is turning neural
- Bearish divergence seen on Stochastics on the daily charts
- Price action is above cloud and Chikou span has turned bullish
Support levels - 1.0828 (21-EMA), 1.08, 1.0780 (55-EMA)
Resistance levels - 1.0837 (5-DMA), 1.0843 (20-DMA), 1.0875 (Apr 6th high)
Summary: AUD/NZD trades in a Rising Wedge pattern and pullback has held support at 21-EMA. Any further weakness only on decisive break below. Close above 20-DMA will see upside resumption.
